If You Have An Account In SBI, Know For Yourself The Bad NewsMessage

There is bad news for the customers of SBI sitting in hopes of relieving the minimum balance in the savings account. SBI customers have to pay penalty for not maintaining the minimum balance required. For the country's largest bank customers, the rules of minimum balance will already be applicable. However, this rule will be different in different types of branches. In case of Minimum Balance, there will be no penalties in any account. This will also depend on the average minimum balance.
In terms of minimum balance terms, SBI has divided its branches into four categories. 1. Metro 2. Rural 3. Urban and 4 cm Urban Minimum Average Balance Rule of 3000 rupees already applicable to subscribers of Urban or Metro Branches will be applicable. SBI raised the minimum balance to Rs 5000 in June last year. However, after metro cities were reduced to 3000 and semi urban and 2000 rupees in rural areas. This limit was also reduced for NABLs and Passioners. In addition, penalties were also reduced to Rs 20 to Rs 50 instead of 25 to 100 rupees.

It is noteworth that the minimum balance limit in SBI is lower than that of other public sector banks and big private banks. Minimum balance limit of 10 thousand rupees in the metro accounts of ICICI, HDFC, Kotak and Axis Bank. However, SBI has imposed a penalty of Rs 1772 crore on customers for not maintaining minimum balance between April and November 2017.
That's exactly what seems fine
Due to lack of minimum balance in metros or urban branches, the penalty will be between 30 and 50 rupees along with penalties. Penalty for semi urban and rural branches is Rs 20 to Rs 40 and GST. However, the penalty depends on how much the minimum balance is.

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